Ghana: British International Investment backs outsourcing company
Growth Investment Partners Ghana, a platform created by BII, has announced its first investment.
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Growth Investment Partners (GIP) Ghana, an investment platform created by British International Investment (BII), announced its first investment in Ghanaian business processing outsourcing (BPO) company E-Services Africa Limited (eSAL). GIP will invest the Ghana cedi equivalent of $3.2 million in eSAL, to support the company’s growth and global delivery of cost-effective and high-quality outsourcing solutions for businesses.
GIP Ghana is a platform launched by BII in 2023, with an anchor capital commitment of up to $50 million, to provide long-term, flexible capital, primarily in local currency, to small and medium-sized enterprises (SMEs) across the country. GIP aims to address a critical gap in accessing finance for SMEs who occupy a key role in the Ghanaian economy.
Established in 2001, eSAL has rapidly grown as a pioneer within the Ghanaian BPO sector, providing outsourcing processes and technology that help to improve business operations across various sectors including financial services, telecommunications, energy, travel, and media.
The investment will provide capital for eSAL to purchase new infrastructure and relocate to a larger facility in Accra to maximise its delivery capacity and serve an increasingly global client base.
The BPO industry is transforming significantly, fueled by the increasing demand for cost-effective and scalable third-party administration and customer service solutions.
Jacob Kholi, chief executive and investment officer at GIP Ghana, commented: "We're pleased to be making our inaugural investment in eSAL. This investment marks a significant step forward in our mission to be at the forefront of alternative investment options for long-term capital in Ghana. It signifies our dedication to supporting SMEs, the lifeblood of Ghana's economy. GIP Ghana is committed to helping bridge the financing gap for Ghana's SMEs, expanding access to business support services, and providing patient, flexible finance."
Kojo Afedzi Hayford, founder and chief executive officer, eSAL, said: "As eSAL steps into a pivotal phase towards becoming a dominant force in pan-African business process outsourcing, our strategic partnership with GIP, bolstered by BII, is more than just a business expansion – it's a commitment to impact sourcing. This investment not only highlights our dedication to excellence but also opens doors for showcasing the talents of young Ghanaians and Africans in the global marketplace. By creating substantial employment opportunities, we are positioned to unveil the potential of Africa's youth, making Ghana a beacon for global brands seeking innovative, socially responsible BPO solutions in Africa."
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